Crown (NYSE:CCK) Upgraded to Outperform by Robert W. Baird

Robert W. Baird upgraded shares of Crown (NYSE:CCK) from a neutral rating to an outperform rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $90.00 target price on the industrial products company’s stock, up from their prior target price of $85.00.

CCK has been the topic of several other research reports. Mizuho dropped their price target on Crown from $105.00 to $96.00 and set a buy rating on the stock in a research note on Tuesday, February 6th. Wells Fargo & Company lowered their target price on Crown from $78.00 to $76.00 and set an equal weight rating on the stock in a research report on Thursday, April 11th. UBS Group started coverage on Crown in a research report on Tuesday, January 16th. They issued a buy rating and a $112.00 target price on the stock. Wolfe Research started coverage on Crown in a research report on Friday, March 1st. They issued an outperform rating and a $102.00 target price on the stock. Finally, Truist Financial reaffirmed a hold rating and issued a $88.00 target price (down previously from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $99.21.

Crown Stock Performance

CCK opened at $77.64 on Tuesday. The business’s 50-day moving average price is $76.82 and its two-hundred day moving average price is $82.81. Crown has a 1 year low of $69.61 and a 1 year high of $96.35. The company has a market capitalization of $9.38 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 2.59 and a beta of 0.91. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77.

Crown (NYSE:CCK) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.19). Crown had a net margin of 3.75% and a return on equity of 25.75%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the business earned $1.17 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts expect that Crown will post 5.91 EPS for the current fiscal year.

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Wednesday, March 13th. This is a boost from Crown’s previous quarterly dividend of $0.24. Crown’s payout ratio is currently 26.60%.

Institutional Investors Weigh In On Crown

A number of institutional investors have recently made changes to their positions in the company. BluePath Capital Management LLC bought a new stake in shares of Crown in the third quarter valued at approximately $25,000. Sound Income Strategies LLC bought a new stake in shares of Crown in the fourth quarter valued at approximately $26,000. Rise Advisors LLC bought a new stake in shares of Crown in the first quarter valued at approximately $27,000. Mather Group LLC. bought a new stake in shares of Crown in the first quarter valued at approximately $32,000. Finally, Quest Partners LLC bought a new stake in shares of Crown in the fourth quarter valued at approximately $34,000. Institutional investors own 90.93% of the company’s stock.

Crown Company Profile

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.